(MENAFN) Based on international rating agency Moody's, economic activity in Japan is predicted to return to its economic level before the pandemic by the upcoming year.
In late Friday, the agency stated in a statement that "Moody's expects Japan's real GDP growth to accelerate over the next few quarters," and adding "the recovery will be further aided by ongoing fiscal and monetary support, as well as the continued healthy demand for Japan's merchandise exports."
The rating agency declared that it predicts Japan's GDP growth to become steady at only under 1 percent in the medium term, mentioning that it dropped 4.6 percent during last year because of the Covid-19 pandemic.
Because of the huge fiscal reaction to the pandemic, the agency predicts Japan's government debt to reach 230 percent of its GDP for the fiscal year ending in March this year, from about 200 percent the last fiscal year.
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